Cetera Investment Advisers Boosts Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Cetera Investment Advisers boosted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,149 shares of the construction company’s stock after purchasing an additional 1,341 shares during the period. Cetera Investment Advisers’ holdings in Sterling Infrastructure were worth $1,438,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in Sterling Infrastructure by 47.1% during the 1st quarter. Nordea Investment Management AB now owns 50,420 shares of the construction company’s stock valued at $5,651,000 after purchasing an additional 16,142 shares in the last quarter. Inspire Investing LLC acquired a new stake in Sterling Infrastructure during the 1st quarter valued at $449,000. Principal Financial Group Inc. grew its holdings in Sterling Infrastructure by 49.8% during the 1st quarter. Principal Financial Group Inc. now owns 26,038 shares of the construction company’s stock valued at $2,872,000 after purchasing an additional 8,657 shares in the last quarter. Robeco Schweiz AG acquired a new stake in Sterling Infrastructure during the 2nd quarter valued at $1,420,000. Finally, Hennessy Advisors Inc. grew its holdings in Sterling Infrastructure by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock valued at $48,558,000 after purchasing an additional 74,500 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Trading Down 2.2 %

NASDAQ STRL opened at $156.11 on Wednesday. Sterling Infrastructure, Inc. has a 12 month low of $55.45 and a 12 month high of $160.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17. The company’s fifty day moving average price is $128.02 and its two-hundred day moving average price is $119.28.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. The firm had revenue of $582.82 million for the quarter, compared to the consensus estimate of $553.70 million. During the same period in the prior year, the firm posted $1.27 EPS. As a group, research analysts predict that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the transaction, the executive vice president now directly owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Sunday, September 15th.

Sterling Infrastructure Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.